Commission-free currency

[Hilary]

I've just received my new charge card from Marks and Spencer, and note that they list as one of the 'extra benefits':

<b>Commission-free Travel Money delivered FREE to your home* - call 0207 370 7543</b>

(* All currency transactions are commission free except for sterling travellers cheques. Delivery is free for currency orders worth £500 or more (otherwise £5))

Presumably you'd have to pay using your M&S charge card, so probably only of any use to anyone who already has one ( and with a credit limit of over £500 - unlike me! ).

 

[bengunn]

Interesting but I bet that they charge you interest from day 1 - just like a cash advance

 

[caroley]

Couldn't you get round the low credit limit and interest from day one, by paying the money onto the card before using it? I've done that before with large transactions.

 

[swalespoobear]

Hi

Only a suggestion but check the exchange rate they are offering as there are a lot of companies which offer commission free currency, but lower their exchange rate to compensate!

 

[Albert]

Hi Hilary!

I used my M&S chargecard in the middle of January to buy $1,000 and was billed £714.80. They told us what day it would be delvered, within 72 hours from order, and I settled on my monthly statement without interest charges.

I was very impressed.

Albert

 

[Albert]

Hi Hilary!

I used my M&S chargecard in the middle of January to buy $1,000 and was billed £714.80. They told us what day it would be delivered, within 72 hours from order, and I settled on my monthly statement without interest charges.

I was very impressed.

Albert

 

[bengunn]

That is pretty good - an exchange rate of 1.399 $/£ and no interest.